BloombergNEF

The growth of European rooftop solar continues this year, with innovative companies raising capital to develop the market. It’s an encouraging trend with the potential to accelerate rooftop solar adoption. pv magazine correspondent Valerie Thompson takes a closer look.

Last year was another landmark 12 months for energy storage, with all indicators pointing to a massive surge in demand. Supply chain instability and inflation saw battery prices rise but the industry demonstrated an ability to swiftly react to geopolitical developments. We look at five trends driving the market.

While near neighbors, the electricity generation of the countries of Southeast Asia couldn’t be further apart. Indonesia burns locally mined coal; Malaysia has reserves of oil and gas; and populous Singapore, Vietnam, and the Philippines depend on fossil fuel imports. They could all benefit from increased solar electricity but higher grid capacities and interconnection are key for an opportunity to unlock the power of the sun.

Investments in renewables are hitting new highs in China, as recurrent Covid-19 outbreaks and a crisis-stricken housing market threaten the world’s second-biggest economy, according to BloombergNEF.

In other news, Stellantis demonstrates wireless charging tech that transfers energy from road infrastructure to EVs, Toyota defies shareholder pressure to step up electrification efforts, and Volkswagen threatens to dethrone Tesla on EV sales by 2024.

With fears over Europe’s gas supply tightening, the Australian government is forging ahead in the green hydrogen sector by launching tech incubator HyGate and awarding Volt Advisory Group cash to develop a renewable energy microgrid. Australian business Fortescue Future Industries and Europe’s Airbus will work on hydrogen-powered aircraft and Kawasaki Heavy Industries is making strides in transporting hydrogen from the state of Victoria.

BloombergNEF’s Jenny Chase has surveyed the state of affairs in world solar for clean energy journal Joule and said the technology’s historic ability to surmount obstacles – and persistently confound analysts’ predictions – should offer a reason for hope.

A speech delivered by the European Commission’s executive VP for the European Green Deal reiterated the EU executive’s belief natural gas will play a part in the energy transition, 24 hours before a member of an advisory panel hit out at plans to deem gas and nuclear sustainable energy sources.

The Canadian Solar chief repeated his belief the trend of ever-cheaper solar panels has come to an end and revealed, at the online BNEF event, his company is set to launch a 700 W module.

As solar deployment increases, concerns about price cannibalization continue to be more and more relevant. Large-scale solar generation during midday hours may result in curtailment or unprofitable wholesale power prices. As supply increases, the economic viability of solar PV projects could fall into question.